U.S. markets end largely unchanged: U.S. markets closed flat in a lackluster session on Wednesday following the longest weather-related shutdown since 1888. The Dow Jones Industrial Average (INDEXDJX:.DJI) dipped 10.67 points, or 0.08 percent, to close at 13096.54. The S&P 500 (INDEXSP:.INX) eked out a gain of 0.22 points, or 0.02 percent, to end at 1,412.16, while the NASDAQComposite (INDEXNASDAQ:.IXIC) ell 10.72 points, or 0.36 percent, to finish at 2,977.23.

Oil prices edge higher: Crude prices gained on Wednesday as investors braced for a potentially long-term fuel supply disruptions at the East Coast’s second-biggest refinery after Sandy cut off power to the plant and flooded some low-lying areas. Crude oil for December delivery added 0.7 percent, to settle at $86.24 a barrel on the New York Mercantile Exchange. Brent oil for December settlement lost 0.7 percent to $108.33 a barrel on the London-based ICE Futures Europe exchange.

Stocks in Focus

• Visa Inc (NYSE:V) posted fiscal fourth-quarter earnings excluding one-time items of $1.54 a share, beating Street expectations for $1.50 a share. Operating revenue rose 15 percent to $2.7 billion, in line with estimate of $2.68 billion.
• Metlife Inc (NYSE:MET) said third quarter operating profit rose 47 percent to $1.42 billion, or $1.32 a share, from $965 million, or 91 cents a year earlier, topping the average analysts’ estimate of $1.28 a share.
• Mastercard Inc (NYSE:MA) reported a 7.7 percent rise in third quarter profit to $772 million, or $6.17 a share, from $717 million, or $5.63, a year earlier. Revenue increased 5 percent, to $1.92 billion. Analysts were expecting the company to earn $5.92 a share on $1.94 billion in revenue.
• Home and auto insurer The Allstate Corporation (NYSE:ALL) said third-quarter profit quadrupled to $723 million or $1.48 a share, from $175 million, or 34 cents, in the same period last year. Operating profit rose to $1.46 a share from 16 cents a year earlier, beating the average analysts’ estimate of $1.13 per share.
• Phillips 66 (NYSE:PSX) said third-quarter profit rose 52 percent to $1.6 billion, or $2.51 a share, from $1.05 billion, or $1.65, in the year-ago period. Excluding one-time items, earnings stood at $2.97 a share, topping estimates of $2.35 per share.
• MGM Resorts International (NYSE:MGM) reported third quarter loss of $181.2 million, or 37 cents a share, compared with a year-earlier loss of $123.8 million, or 25 cents a share. Excluding one-time items, the casino operator posted a loss of 23 cents per share. Revenue came in at $2.3 billion. Analysts had projected a loss of 17 cents a share on revenue of $2.28 billion.
• Seagate Technology PLC (NASDAQ:STX) posted first quarter earnings excluding one-rime items of $1.45 per share, on revenue of $3.73 billion. Analysts were expecting the hard drive maker to earn $1.68 per share and $3.75 billion in revenue.
• Cummins Inc. (NYSE:CMI) reported third quarter earnings excluding one-time items of $1.78 per share, below analysts’ projection of $1.83 a share. Revenue fell 11 percent to $4.1 billion, in line with forecast. The engine maker reiterated its recently revised forecast for full-year profit.
• Semiconductor company Cirrus Logic, Inc. (NASDAQ:CRUS) reported second quarter earnings and revenue that beat Wall Street estimates, and provided a better-than-expected current quarter revenue guidance.
• Biogen Idec Inc. (NASDAQ:BIIB) said its experimental treatment for patients with hemophilia A met its goals in a late-state study. The company plans to apply for U.S. regulatory approval next year.
• Waste Management, Inc. (NYSE:WM) reported third quarter earnings excluding one-time items of 61 cents per share, 1 cents above the average analysts’ estimate. Revenue fell 1.7 percent to $3.46 billion, trailing estimates of $3.5 billion. The waste-disposal company cut its full-year earnings outlook.
• Exchange operator Nasdaq OMX Group, Inc. (NASDAQ:NDAQ) has agreed to acquire the index business of Mergent Inc. for an undisclosed amount.
• BMC Software, Inc. (NASDAQ:BMC) reported second quarter earnings excluding one-time items of 88 cents a share, matching expectations, but sales were below estimates.
• HSN, Inc. (NASDAQ:HSNI) said third quarter earnings excluding items dropped to 66 cents per share from 50 cents per share. Sales jumped 7.1 percent to $778.8 million. Analysts had expected the direct-to-consumer retailer to post earnings of 51 cents on revenue of $786 million. The company also raised its quarterly dividend 44 percent to 18 cents per share.
• Computer software company AVG Technologies NV (NYSE:AVG) reported third quarter results that topped forecasts and also provided better-than-expected current-quarter revenue guidance.

• American Capital Agency Corp. (NASDAQ:AGNC) was lifted to “buy” from “hold” by analysts at Wunderlich with a target price of $34.
• Artio Global Investors Inc. (NYSE:ART) was upgraded to “neutral” from “sell” by analysts at Citigroup.
• Canadian Pacific Railway Limited (USA) (NYSE:CP) was raised to a “market perform” rating from a “underperform” rating by analysts at FBR Capital with a target price of $90.
• Copart, Inc. (NASDAQ:CPRT) was lifted to “outperform” from “neutral” by analysts at Robert W. Baird with a target price of $33.
• Ctrip.com International, Ltd. (ADR) (NASDAQ:CTRP) was upgraded to “buy” from “neutral” by analysts at Goldman Sachs.
• Dominion Resources, Inc. (NYSE:D) was raised to “buy” from “hold” by analysts at Argus with a target price of $57.
• DineEquity Inc (NYSE:DIN) was lifted from “outperform” to “strong buy” by analysts at Raymond James.
• Forest Oil Corporation (NYSE:FST) was upgraded to “outperform” from “neutral” by analysts at RBC Capital Markets.
• Nanometrics Incorporated (NASDAQ:NANO) was raised to “overweight” from “neutral” by analysts at JPMorgan Chase.
• News Corp (NASDAQ:NWSA) was lifted to “outperform” from “neutral” by analysts at Macquarie.
• Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) was upgraded to “buy” from “hold” by analysts at Miller Tabak.
• Stewart Information Services Corp (NYSE:STC) was raised to “outperform” from “market perform” by analysts at FBR Capital.
• Team Health Holdings LLC (NYSE:TMH) was lifted to “overweight” from “neutral” by analysts at Piper Jaffray.

• Advent Software, Inc. (NASDAQ:ADVS) was downgraded to “market perform” from “outperform” by analysts at JMP Securities.
• Clean Energy Fuels Corp. (NASDAQ:CLNE) was lowered to “underweight” from “neutral” by analysts at Piper Jaffray.
• Ceragon Networks Ltd. (NASDAQ:CRNT) was cut to “hold” from “buy” by analysts at Canaccord Genuity.
• EQT Corporation (NYSE:EQT) was downgraded to “market perform” from “outperform” by analysts at Wells Fargo & Co.
• Halcon Resources Corp (NYSE:HK) was lowered by analysts at JPMorgan Chase from an “overweight” rating to a “neutral” rating.
• Integrated Device Technology, Inc. (NASDAQ:IDTI) was cut to “neutral” from “outperform” by analysts at Wedbush.
• QEP Resources Inc (NYSE:QEP) was downgraded to “market perform” from “outperform” by analysts at Raymond James.
• QuinStreet Inc (NASDAQ:QNST) was lowered by analysts at Raymond James from an “outperform” rating to a “market perform” rating.
• The Western Union Company (NYSE:WU) was cut to “market perform” from “outperform” by analysts at Raymond James.
• Weyerhaeuser Company (NYSE:WY) was downgraded to “sell” from “hold” by analysts at McAdams Wright Ragen.

Author: Abhijit SenAbhijit Sen is a financial writer, commentator, with close to a decade's experience in analyzing global equity, commodity and Forex markets. He is based in India, and can be reached at abhijit.sen@valuewalk.com.